XBTO has already helped issue two debt tokens for boutique airline BermudAir.
The tokenization platform will soon offer an ‘e-note’ for hemp and CBD producer AgroRef.
Cryptocurrency trading company XBTO has created a new tokenization team focused on real world assets (RWAs), advancing the blockchain-based corporate bond issuances the company has been working on, with areas like real estate to follow.
Much of the focus on tokenization has been on big banks like JPMorgan and asset management giants like BlackRock, which have largely focused on blockchain-based versions of U.S. government bonds.
Arguably closer to real-world scenarios, Bermuda-based In the coming weeks, hemp and CBD producer AgroRef will also launch an e-note about XBTO.
The new tokenization team, led by MD Mas Nakachi, will work with on-chain capital markets platform Obligate, with the e-notes rated by Credora, a platform that produces technology-driven credit ratings, XBTO said.
A medium or small business looking at financing may not have access to those markets and may find it punishing to provide financing the traditional way, which involves covering the costs of an investment bank, says Javier Rodriguez Alarcon, XBTO’s chief commercial officer.
“Reducing the cost for private companies to be able to spend can also translate into a better rate for the investor and a more attractive investment proposition,” Rodriguez Alarcon said in an interview. “Plus there is the speed of settlement and the transparency that comes with using the rails of crypto.”
XBTO, which is regulated in Bermuda, offers its tokenized assets to accredited investors, and only to investors outside the US.
